Taking the financial stress out of holiday travel may sound like an oxymoron, but visiting Grandma for Thanksgiving in Minnesota or taking the family to Maui for Christmas is possible with advanced planning. Sure, you may still forget your travel-size toothpaste, but once you arrive at your destination you’ll be able to relax and not worry about the details.
Take solace in the fact that you’re not alone in your holiday season travels. Last winter, a record 107 million Americans traveled 50 miles or more from home from Dec. 23rd to Jan. 1, according to a report from AAA. While traveling during the holiday season tends to be pricier, it’s also convenient because schools are on break and many companies close for part of the week or allow employees to use flex time.
Here are a few money-saving tips that will reduce the costs and stress of traveling during one of the busiest times of the year.
You should also start a separate travel fund so that you aren’t interfering with your regular savings. Many banks, like Rockland Trust, offer a variety of savings accounts and can help you determine which is best for your financial strategy. Using a separate savings account will also keep you on budget during your trip and help avoid mistakenly drawing from your regular checking account.
Pro Tip: Connect a debit card to this account so you can withdraw money directly from the account when you’re on vacation. This will help you track spending as you go and ensure you stay on budget.
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Rockland Trust gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.